InfoStore – Data Mart Kits for GSE’s
We have all heard the phrase “don’t reinvent the wheel.” It seems in the business world, and particularly in technology, people can’t seem to resist. Usually, it is under the guise of another aphorism “building a better mousetrap,” and therefore ignoring the words of wisdom “those who don’t learn from history are destined to repeat it.”
In the world of data management there are several overlapping disciplines including data governance, data quality, data warehousing, and master data management. These disciplines require different skillsets to implement effectively: business analysts, subject matter experts, data architects, ETL programmers, project managers, and governance experts. The costs to implement effective data management across these disciplines is significant.
As we have written in other blogs (See Data Grief – The Start of the Journey to Data Health) these separate disciplines and sets of experts are often working on different parts of the same puzzle. Different sets of software tools are deployed to address the work within these disciplines. Teams with varying skill sets and levels of experience are deployed to support these disciplines. Additionally, work done in the past is often thrown away to build the new and shiny object.
The statistics tell the story. Four in ten data warehouse projects fail. (Data warehouse failures commonplace – Network World Magazine) Data governance implemented in isolation or in conjunction with data warehouse projects fare no better. Master Data Management (MDM) implementations have a similar reputation. Data quality often succeeds by limiting its scope and therefore limiting its overall value. Costs are high. Project risks are high. However, the cost of doing nothing is even higher. (See the MGI Risk Assessment Worksheet to get a handle on your organizational risk in the data management space.)
At IGT we have had the opportunity to work directly and indirectly through our partners in building and managing organizational data. We have seen what works and what missteps can send a project off track.
Within the FHLB/GSE system we have implemented data models that reflect the unique data requirements of these organizations. The underlying model has been refined and perfected through multiple iterations based on direct observation of lacking business functionality in previous versions. Leveraging our software platform (InfoGov and InfoCheck), we have built an information baseline around these data models that include a complete FHLB business glossary, subject area groupings, and automated reconciliation controls. These we deliver out of the box in our InfoStore kits. Add your data sources and your organizational use requirements and you have a fully developed, self-reconciling data solution. InfoStore data mart kits are available for Vendor Diversity Management, Advances, Debt, Investments, General Ledger, MPP/MPF, Legal Entity, Market Risk, and Third Party Data.
Reduce your project risk. Accelerate your delivery time. Don’t reinvent the wheel.
